Cryptocurrency market update: All hell breaks lose as Bitcoin (BTC) dives under $10,000


  • The cryptocurrency market's carnage takes another twist on Monday.
  • Bitcoin and major altcoins are nursing double-digit losses.


The optimism vanished into thin air as Bitcoin (BTC) and all major altcoins have been under aggressive selling pressure for the last three days. Monday has started with another bearish wave that took the total capitalization of all digital assets in circulation to as low as $272 billion from $311 billion this time on Sunday. The figure dropped below $300 billion handle for the first time n recent two weeks. Bitcoin's market share increased to  65.9% as altcoins are doing even worse.

Top-4 coins price overview

Bitcoin (BTC/USD) is hovering around $10,000 handle after sliding to $9,843 during early Asian hours. The first digital coin has touched the lowest level since July 2 amid strong bearish pressure. A sustainable move below $10,000 handle will worsen the technical picture significantly and become a pre-condition for an extended sell-off.

Ethereum, the second largest digital asset with the current market capitalization of $23. billion is a big loser of the day. ETH has lost nearly 20% of its value in recent 24 hours and hit $202.86 low during early Asian hours. At the time of writing, ETH/USD is changing hands at $216.80, moving within a strong bearish trend on the short0term timeframes.

Ripple's XRP has lost 9.1% since this time on Sunday to trade at $0.3018 by the time of writing. The third largest digital asset with the current market capitalization of $12.8 billion pierced below $0.30 handle and touched an intraday low at $0.2945.

Litecoin (LTC/USD), now the fourth largest digital asset in the global cryptocurrency rating with the current market value of $5.5 billion. At the time of writing, LTC/USD is changing hands at $88.40, having recovered from the intraday low of $84.85 hit during early Asian hours. The coin has lost nearly 1% in recent 24 hours.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crypto Today: Calm between the storm? Schiff says look out below, Dash, Monero stand out

Bitcoin in mid-range, BTC/USD is trading just below $7,400 after experiencing rises and falls of hundreds of dollars within days. Peter Schiff, a life-long crypto skeptic, said that pumpers and dumper have lost the plot, and added: "Look out below".

More Cryptocurrencies News

Ethereum Price Analysis: ETH/USD bumps into $148.00, waits for new drivers

ETH/USD has recovered to $148.00 on Thursday; however, the upside momentum has faded away during early Asian hours. The second largest coin with the current market capitalization of $16.2 billion has settled in a tight range limited by $148.00 on the upside.

More Ethereum News

Monero Price Analysis: XMR/USD rises from the ashes

Monero is arguably the biggest single-digit gainer on the first Friday of December. The crypto has increased in value by 2% on the day after opening the trading session at $55.01. 

More Monero News

Bitcoin Cash price analysis: BCH/USD market momentum turns from bearish to bullish

BCH/USD is on course of charting its second straight bullish day. Currently, the price has gone up slightly to $211.75 and is floating below the 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves. 

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP